Blue Lobster Capital Limited, 3284906 Nova Scotia Limited, 333533 Nova Scotia Limited and 4318682 Nova Scotia Limited

Blue Lobster Capital Limited and three related Nova Scotia companies obtained CCAA protection in the Supreme Court of Nova Scotia on December 13, 2024, under court file Hfx. No. 538745. A preliminary creditor list as at December 12, 2024 showed Royal Bank of Canada secured for $3,004,123 against 3284906 Nova Scotia Limited (Spirit Co), $1,180,581 against 3343533 Nova Scotia Limited (Lost Bell), $894,515 against Blue Lobster and $693,143 against 4318682 Nova Scotia Limited. RBC, which also provided a court-approved $300,000 DIP facility, has since been repaid in full, and the Monitor has repaid the Corkum Mortgage over the Dudley Park Lane property and paid Beck Flavors Inc. the $125,000 authorized by the March 23rd Ancillary Order. Two matters remain live: RBC's allocation of $345,000 in Charlottetown Property proceeds to Spirit Co rather than Blue Lobster, before the Court, and the July 8, 2026 Fee Allocation Settlement, under which the BLCL Parties would assume approximately $259,000 of Blue Lobster unsecured claims within 90 days of approval. The proceedings are active.